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Robert P. Murphy, author of The Politically Incorrect Guide to Capitalism, discusses why the old adage “war is good for the economy” is simply not true; the hidden costs in “trickle down” benefits from large government and military expenditures (like the highway system and communications infrastructure); the Obama administration’s inconsistent policy on large government deficits; and how US money creation prompts other countries to follow suit, debasing currencies around the world and leading to speculative bubbles.

Podcast: Play in new window | Download (Duration: 21:01 — 4.8MB)